Wednesday, 27 February 2013

Best ways to save money while redoing your home by Boman Rustom Irani

Renovating your humble abode is a very exciting task for most people. Whether it is your first bachelor pad, your first apartment as a newlywed couple, your brand new house after having children or your old home, which desperately needs a facelift; home improvement or overhaul can be exciting and daunting at the same time.
Just like while buying a home, most people go overboard, when it comes to the pre-decided budget, same is often the case for home renovation also. So how do you get your dream home and also make sure that you are not left penniless in the process. The following tips should come in handy:

1.      Having a budget in mind (possibly on the lower side with some wiggle room) is the most important and safest way to make sure you don’t go overboard while renovating your home. While it is a good idea to expect the budget to go overboard, make sure you have an upper limit in mind.

2.      How much do you want to spend on basics – flooring, ceiling, plumbing, etc. and how much do you want to spend on frills – fireplace, bathtub, LED TV, etc. Make sure to take care of the necessities first and attend to the luxuries later. You don’t want a leaking bathroom, while watching your favorite show on your home theatre system.

3.      If you are planning to hire a contractor, make sure he knows what all you are expecting from this renovation project. Also, you can get quotes from two or three contractors to compare and study and get the best possible rate.

4.      Delays are a given when redoing your home, so be prepared. But if each delay is causing you more labor cost and other costs, then make sure to clarify the same with the contractor in advance.

 Boman Rustom Irani’s tips to save money while redoing your home should really bring you one step closer to your dream home.

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